We are purchasing a 3 bedroom apartment in Neath with a mortgage. We have a Neath lawyer, but the bank says she’s not on their "panel". It seems we have no choice but to appoint one of the lender panel firms or retain our Neath property lawyer as well as pay for one of their panel lawyers to represent them. This seems very unfair; are we not able to demand that the bank use our Neath conveyancing practitioner ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Neath conveyancing solicitor to apply to be on the conveyancing panel.
The Neath conveyancing firm handling our Neath conveyancing has discovered a difference between the surveyor’s assumptions in the valuation report and what is in the legal papers for the property. My lawyer informs me that he must ensure that the bank is OK with this discrepancy and is content to go ahead. Is my conveyancer’s approach appropriate?
Your lawyer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
My husband and I wish to acquire a 3 bedroom flat in Neath with a homeloan from Lloyds TSB Bank.We have a Neath conveyancing solicitor but Lloyds TSB Bank informed us his firm is not on their approved list of member firms. We have to appoint a Lloyds TSB Bank panel solicitor or keep our preferred solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The loan issued to you contains terms and conditions, one of which will be that lawyers must be on the Lloyds TSB Bank approved list. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Lloyds TSB Bank
My wife and I own a renovated Victorian house in Neath. Conveyancing solicitor represented me and Britannia. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold with the exact same address. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Neath and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with the conveyancing solicitor who conducted the conveyancing.
I’m about to sell my 2 bed apartment in Neath. Conveyancing has not commenced, however I have just received a yearly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should discharge the service charge as usual given that all ground rent and maintenance payments should be apportioned on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Neath Leasehold Conveyancing - Sample of Queries Prior to Purchasing
The answer will be important as a) areas could cause problems in the block as the communal areas may begin to deteriorate if services remain unpaid b) if the leasehold owners have an issue with the running of the building you will want to have all the details In the main the cost for major works are not built into the maintenance charges, although a few managing agents in Neath require tenants to contribute towards a sinking fund created for the specific intention of establishing a fund for major works.